Pacific Controls, a Dubai-based technology company, is in talks with banks about restructuring debts of Dh1.4 billion ($381 million), sources told Reuters, one of the largest firms to have to do so since the emirate's economy began to slow.

Pacific Controls, a Dubai-based technology company, is in talks with banks about restructuring debts of Dh1.4 billion ($381 million), sources told Reuters, one of the largest firms to have to do so since the emirate's economy began to slow.

China's Baosteel Group and Wuhan Iron and Steel Group, two of the country's largest steelmakers, are together planning to restructure, their listed units said in separate stock exchange filings on Sunday.
Baosteel Group is

State-owned Oman Oil Company (OOC), the national petroleum investment company, will restructure itself to support expansion and improve efficiency, chief executive Isam al-Zadjali said.
"The size of the company has grown. OOC

Barclays is cutting nearly 150 people from its corporate banking unit in Dubai as part of a restructuring of the business in the Gulf emirate, a source familiar with the matter said on Wednesday.
The bank will close its office in

Oman's government has approved a restructuring of loss-making Oman Air, including the creation of subsidiaries and ventures to handle some businesses, the state carrier said on Tuesday.
The government will take an additional R

Oman Air has revealed plans to restructure its business that will see the incorporation of subsidiary or associate companies to manage its ground handling, hospitality, cargo handling, duty free sales, and engineering operations, said a report.

Air Berlin's board of directors will decide on a new restructuring programme for the German airline in the coming weeks, a person familiar with the matter told Reuters on Tuesday.
Germany's second-largest airline, 29 per c

UAE Exchange, a leading global remittance and foreign exchange brand, has appointed Dr B R Shetty as the chairman of its board of directors.
It comes as part of its corporate restructuring exercise aimed at pav

Bahrain Chamber of Commerce and Industry (BCCI) said it has started implementation of a plan to restructure its administrative and executive body.
The reforms, which are implemented in co-ordination with Bahraini firm Jafcon Consu